The company had 100,000 shares of common stock outstanding on January 1. In addition, as of January 1, the company had issued 10,000 convertible preferred shares (cumulative, 5%, $100 par). These preferred shares were converted on September 1. Each preferred share was converted into four shares of common stock. The preferred dividends for the entire year were paid in full before the conversion. The company has no other potentially dilutive securities. Net income for the year was $200,000. Compute (1) Basic earnings per share and (2) Diluted earnings per share.
Common Stock Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...
The company had 200,000 shares of common stock outstanding on January 1. In addition, as of...... ... stock. The preferred dividends for the entire year were paid in full before the conversion. The company has no other potentially dilutive securities. Net income for the year was $300,000. Compute...
The company had 200,000 shares of common stock outstanding on January 1. In addition, as of...... ... stock. The preferred dividends for the entire year were paid in full before the conversion. The company has no other potentially dilutive securities. Net income for the year was $300,000. Calcualte...
The company had 200,000 shares of common stock outstanding on January 1. In addition, as of...... ... The preferred dividends for the entire year were paid in full before the conversion. The company has no other potentially dilutive securities. Net income for the year was $300,000. Compute (1)...
The 2008 balance sheet of Maria\'s Tennis Shop, Inc., showed $740,000 in the common stock account and $5.2 million in the additional paid-in surplus account. The 2009 balance sheet showed $815,000 and $5.5 million in the same two accounts, respectively. If the company paid out $490,000 in cash...
As part of a clinical trial, the drug tofacitinib citrate was administered in 5-mg doses to 1336 subjects as a rheumatoid arthritis treatment. Here are the numbers of adverse reactions: 57 subjects had headaches, 21 had hypertension, 60 had upper respiratory tract infections, 51 had...
On January 1, 2010, the balance in Kubera Co.’s Allowance for Bad Debts account was $9,720. During the year, a total of $23,900 of delinquent accounts receivable was written off as bad debts. The balance in the Allowance for Bad Debts account at December 31, 2010, was $10,480. Required: a. What...
+ - C A student.uae.examus.netridban=16sessionid-814038sereOp Male-MGT101-Final-2021-1 The process of studying large amounts of data of a variety of types to uncover hidden patterns, unknown comitin father as a. New Age Computing b. Méga Rescarch C. Big data Analytics d. Cyber-age Rescarch...
An American Company, on January 1, 2020 purchased a 100% interest in a subdivision located in Italy. Sales were earned and operating expenses were incurred evenly during the year. Exchange rates for the euro at various dates are: 1/1/2020 1.12 12/31/2020 1.25 Average for 2020 1.16 12/10/2020,...
Refer to Practice 18–9. Assume that the convertible bonds were issued on October 1. Compute diluted earnings per share, assuming that (1) Each bond was convertible into 50 shares of common stock and (2) Each bond was convertible into 15 shares of common stock .
The company reported net income of $220,000 for the year and 100,000 shares of common stock were outstanding during the year. The income tax rate is 40%. The company has the following potentially dilutive securities. Assume that each of the securities was issued on or before January 1. Compute (1)...